PROSPECTS AND OPPORTUNITIES
Positive outlook for herbal/traditional products
The forecast indicates increasing retail current value sales of herbal/traditional products in Vietnam in the coming years. There is an expectation of growth across all categories within herbal/traditional products in the short to medium term.
The competitive landscape is likely to remain fragmented
In 2024, nearly 90% of retail value sales of herbal/traditional products in Vietnam is expected to be held by the smallest players, included under “others”, and it is set to remain a highly fragmented category over the forecast period. Traditional Vietnamese medicine has been heavily influenced by Chinese medicine, including acupuncture, Chinese herbs, and basic exercises.
Retail e-commerce set to gain popularity
In 2024, pharmacies is expected to account for half of sales of herbal/traditional products in Vietnam. However, in the coming years, sales of herbal/traditional products via retail e-commerce are projected to grow rapidly, due to the move by an increasing number of consumers to shopping online.
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Overview:
Understand the latest market trends and future growth opportunities for the Herbal/Traditional Products industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Herbal/Traditional Products industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Herbal/Traditional Products in Vietnam report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Herbal/Traditional Products in Vietnam?
- Which are the leading brands in Herbal/Traditional Products in Vietnam?
- How are products distributed in Herbal/Traditional Products in Vietnam?
- How has the regulatory and operating environment for Herbal/Traditional Products changed in Vietnam?
- How are considerations such as stress, self-medication and shifting consumer lifestyles shaping demand for Herbal/Traditional Products
- How significant are wider health concerns and consumer awareness in determining sales?
- Where is future growth expected to be most dynamic?
Herbal/Traditional Products in Vietnam - Category analysis
KEY DATA FINDINGS
Healthy performance supported by familiarity and few side-effects
Herbal/traditional dietary supplements dominates
Herbal/traditional sleep aids is the top growth performer
Positive outlook for herbal/traditional products
The competitive landscape is likely to remain fragmented
Retail e-commerce set to gain popularity
Consumer Health in Vietnam - Industry Overview
Consumer health in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer health?
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
DISCLAIMER
DEFINITIONS
The following categories and subcategories are included:
Herbal/Traditional Products
- Herbal/Traditional Topical Analgesics
- Herbal/Traditional Sleep Aids
- Herbal/Traditional Cough, Cold and Allergy (Hay Fever) Remedies
- Herbal/Traditional Digestive Remedies
- Herbal/Traditional Dermatologicals
- Herbal/Traditional Paediatric Dietary Supplements
- Herbal/Traditional Dietary Supplements
- Herbal/Traditional Tonics
Herbal/Traditional Products
Botanicals or traditional remedies are products that have a long tradition of use, decades of established reputation, and are considered alternative remedies to standard medicine. Traditional medicine remedies such as Ayurveda, Traditional Chinese Medicine (TCM), Unani, Kampo, etc. are included. Homeopathic remedies are excluded. Only packaged products are tracked.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Herbal/Traditional Products research and analysis database.
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